Meow Scratches TV Today Network

The broadcaster’s shares were battered Tuesday after the company swung to a fourth-quarter net loss. Its performance was hurt by the Radio Today Broadcasting business, which runs the just-for-women Meow radio station.

The company used to run the Radio Today Broadcasting as a separate business but combined it with its main operations last July. This is the first results period where TV Today has included the numbers of its radio operations since the amalgamation was completed on April 1.

Analysts say the radio business will continue to remain a dampener for the company because Meow, which airs shows such as “Meow Matinee” and “Mama Meow,” hasn’t taken off in a big way. The only major cities where Meow has a presence are Mumbai, Delhi and Kolkata.

The radio business generated negligible revenue in the quarter and posted losses to the company’s bottom line.

“We don’t see any major revenue traction coming from the radio business until the management guides for substantial cost-cutting,” says Angel Broking media analyst Anand Shah. “We believe radio as a medium is highly loss-making and not too attractive.”

In the quarter ending March 31, TV Today’s broadcast business — its biggest revenue generator — reported a profit of 578.5 million rupees, while its radio operations lost 221.3 million rupees.